Housing Affordability for Homeowners by Race/Ethnicity

Affordable Housing

Housing Affordability for Homeowners by Race/Ethnicity

What does this measure?

The ratio of the median home value divided by the median household income, adjusted for inflation, and shown for homeowners in various racial and ethnic groups.

Why is this important?

This ratio provides a rough estimate of the affordability of homes in a community. A ratio less than 2 or 3 is considered affordable.

How is our region performing?

Housing in Monroe County was considered affordable in 2012-16 for all racial and ethnic groups, with all ethnicities below 2.0. All racial/ethnic groups had more affordable housing in our region than compared to their respective groups in the state or nation. The affordability ratios for Asian and white homeowners (1.9 and 1.8 respectively) were somewhat higher than for African American and Hispanic homeowners (1.2 and 1.5 respectively).

Notes about the data

Multiyear data are from the Census Bureau's American Community Survey, Public Use Microdata Sample, which paired up four counties (Orleans/Genesee, Wyoming/Livingston) due to relatively small populations. The American Community Survey combines five years of responses to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census. Data for this indicator are expected to be released in the first quarter.